Three-Unit Residential Income
For Sale
$949,000
47 Frederic Street, Portland, ME 04102
Three-unit building on a double lot in Portland, offered as a package, with units unoccupied at sale.
Property Size3,570 SF
Price / SF$265.83
Days on Market126
Property Features for 47 Frederic Street
General Information
Standard status
Active
Size
3,570 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
3
Building Details
Year Built
1930
Listing Agency:
F.O. Bailey Real Estate
Listed By:
David Jones · License #DB918088
(207) 650-3455
Source:
Fobaileyrealestate
Added: Jun 25
Changed: Oct 25
Last Checked: Oct 26 at 4:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of F.O. Bailey Real Estate
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Investment Insights
Based on property information with market context.
This three-unit residential income property is situated on a double lot and is being offered as part of a package. The units will be unoccupied at the time of sale, providing a clear start for an owner who wants to reposition the asset. The property includes outdoor space described as having a great back yard, and it is also described as having development potential.
Located at 47 Frederic Street in Portland, Maine, the double-lot configuration may be appealing to buyers looking for options beyond the existing three units. The offering structure and vacant status at closing should streamline transition planning for the next owner.
Located at 47 Frederic Street in Portland, Maine, the double-lot configuration may be appealing to buyers looking for options beyond the existing three units. The offering structure and vacant status at closing should streamline transition planning for the next owner.
Key Highlights
- Three‑unit building on a double lot in Portland
- Year built: 1930
- Offered as a package
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,087
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,261,740
$1.3M
Cap Rate 7%
$901,243
$901.2K
Cap Rate 9%
$700,967
$701.0K
Market Conditions
NOI Build-Up for 3,570 SF
Gross rent
$96.4K $27.00/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$90.1K $25.25/SF
− OpEx
−$27.0K −$7.57/SF
NOI
$63.1K $17.67/SF
Area
Cumberland County, ME
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,261,740
Cap Rate 7%
$901,243
Cap Rate 9%
$700,967
Alternative Uses
Best Use
Multifamily LT 5
$901.2K
$788.6K – $1.05M
NOI $63,087 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$838.5K
$733.7K – $978.2K
NOI $58,693 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$981.2K
$858.6K – $1.14M
NOI $68,685 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,241
Businesses Nearby
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Business Placement
Demographics for 04102, ME
18,002
Population
8,633
Households
2.1
Avg Household Size
38
Median Age
62%
College-Educated
96%
High-School Grad
6.0 sq mi
ZIP Area
3,000
Density / Sq Mi
$79,631
Median Household Income
$47,898
Median Earnings
$1,435
Median Rent
$464,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit building on a double lot in Portland, offered as a package, with units unoccupied at sale.
Where is this triplex located?
The property is located at 47 Frederic Street Portland, ME.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Three‑unit building on a double lot in Portland; Year built: 1930; Offered as a package
